The FY2017 Earnings Forecast for Eaton Corp. PLC (ETN) Issued By KeyCorp

The FY2017 Earnings Forecast for Eaton Corp. PLC (ETN) Issued By KeyCorp

Eaton Corp. PLC (NYSE:ETN) – Research analysts at KeyCorp lowered their FY2017 EPS estimates for Eaton Corp. PLC in a research report issued to clients and investors on Monday. KeyCorp analyst J. Hammond now forecasts that the brokerage will post earnings per share of $4.25 for the year, down from their previous estimate of $4.35.

ETN has been the topic of a number of other research reports. RBC Capital Markets reduced their target price on Eaton Corp. PLC from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 2nd. Aegis began coverage on Eaton Corp. PLC in a research note on Tuesday, December 6th. They set a “buy” rating and a $80.00 price target on the stock. HSBC began coverage on Eaton Corp. PLC in a research note on Friday, October 7th. They set a “buy” rating and a $74.00 price target on the stock. Bank of America Corp. upgraded Eaton Corp. PLC from a “neutral” rating to a “buy” rating in a research note on Monday, January 9th. Finally, JPMorgan Chase & Co. upgraded Eaton Corp. PLC from a “neutral” rating to an “overweight” rating and raised their price target for the company from $65.00 to $75.00 in a research note on Friday, December 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $66.18.

Eaton Corp. PLC (NYSE:ETN) opened at 67.80 on Wednesday. The company has a 50-day moving average of $68.07 and a 200-day moving average of $65.39. The company has a market cap of $30.63 billion, a PE ratio of 16.02 and a beta of 1.36. Eaton Corp. PLC has a 52 week low of $46.78 and a 52 week high of $70.00.

Eaton Corp. PLC (NYSE:ETN) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.15. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Eaton Corp. PLC had a net margin of 9.78% and a return on equity of 12.73%. Eaton Corp. PLC’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS.

In related news, Director Michael J. Critelli sold 13,000 shares of Eaton Corp. PLC stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $64.26, for a total transaction of $835,380.00. Following the completion of the transaction, the director now directly owns 70,566 shares in the company, valued at $4,534,571.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles E. Golden sold 14,626 shares of Eaton Corp. PLC stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $67.96, for a total value of $993,982.96. Following the transaction, the director now owns 15,964 shares of the company’s stock, valued at $1,084,913.44. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ETN. Acadian Asset Management LLC bought a new position in shares of Eaton Corp. PLC during the second quarter valued at $130,000. LS Investment Advisors LLC boosted its position in shares of Eaton Corp. PLC by 2.1% in the second quarter. LS Investment Advisors LLC now owns 17,965 shares of the company’s stock valued at $1,073,000 after buying an additional 370 shares in the last quarter. CIBC World Markets Inc. boosted its position in shares of Eaton Corp. PLC by 23.9% in the second quarter. CIBC World Markets Inc. now owns 11,351 shares of the company’s stock valued at $678,000 after buying an additional 2,186 shares in the last quarter. Oakbrook Investments LLC boosted its position in shares of Eaton Corp. PLC by 9.0% in the second quarter. Oakbrook Investments LLC now owns 58,224 shares of the company’s stock valued at $3,478,000 after buying an additional 4,804 shares in the last quarter. Finally, MSI Financial Services Inc boosted its position in shares of Eaton Corp. PLC by 41.2% in the second quarter. MSI Financial Services Inc now owns 13,616 shares of the company’s stock valued at $814,000 after buying an additional 3,970 shares in the last quarter. Institutional investors own 73.05% of the company’s stock.

About Eaton Corp. PLC

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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